The rise of e-Currency - Good or Bad?

Those who are playing most popular MMRPG (Massively Multiplayer Role Plyaing Game) like Mafia Wars on Facebook or newly launched 140 Mafia on Twitter might be very well aware of the E-Currency or Virtual Cash.

They use Virtual Cash to buy properties like Islands, Restaurants, Weapons, Sedans, Armors. At the same time they also earn that Virtual Cash by finishing specific tasks.

Web sites such as PlayerAuctions have even adopted a PayPal-like approach in order to broker the trading legally the virtual assests including virtual Gold and acting as an open marketplace for players to exchange their digital assets.

Frenzoo, a "3D fashion game for girls"has adopted this Virtual e-Currency model. Other popular games like World of Warcraft, EverQuest and Second Life also has their own Market Place and simialr models where players are using them for Real Cash.

In March 2009, GoldMoney launched a dedicated iPhone application allowing its account holders to exchange gold and silver units within minutes.

The big question is, whether these kind of models allowing e-Currency and Virtual Cash transactions are good or bad?

The increasing use of these virtual currencies and virtual money by players and internet users leading towards a new Dual Economy is really a matter to concern and take seriously. The Gaming Companies are surely earning Big Time Profits with these kind of Models but the question is how useful it can be made into the routine economy and routine transaction.


If you have your say on the Virtual Economy, comment it.